Manor Rose Limited has been ordered into provisional liquidation by the High Court, following a petition by the Secretary of State for Business, Innovation and Skills (BIS) to close down it and a related company.
The petitions to wind up Manor Rose Limited, a land banking company, and its connected company MR Investment Club Limited followed confidential enquiries carried out by Company Investigations, part of The Insolvency Service.
Manor Rose Limited marketed land and other investment opportunities to the public including the sale of shares in MR Investment Club Limited.
The court has appointed the Official Receiver to act as provisional liquidator of the companies on the application of the Secretary of State for Business, Innovation and Skills. The role of the Official Receiver is to protect the assets and financial records of the companies pending determination of the petitions.
The provisional liquidator also has the power to investigate the affairs of the companies insofar as it is necessary to protect their assets including any third party or trust monies or assets in the possession of or under the control of the companies.
As the matter is before the court no further information will be made available until the petitions are determined. The petitions are listed for hearing on 30 May 2012.